Clarification on issues under GST for companies under IBC, 2016
Posted Date : 25-Mar-2020 , 09:31:13 am | Posted By: CASANSAAR
Various representations have been received from the trade and industry seeking clarification on issues being faced by entities covered under Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the “IBC”)....
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GST |
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GST - Apportionment of ITC in cases of business reorganization
Posted Date : 25-Mar-2020 , 09:30:23 am | Posted By: CASANSAAR
Representations have been received from various taxpayers seeking clarification in respect of apportionment and transfer of ITC in the event of merger, demerger, amalgamation or change in the constitution/ownership of business. Certain doubts have been raised regarding the interpretation of subsection (3) of section 18 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the CGST Act) and sub-rule (1) of rule 41of the Central Goods and Services Tax Rules, 2017 (hereinafter...
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GST |
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Priority Sector Lending - Lending by banks to NBFCs for On-Lending
Posted Date : 23-Mar-2020 , 04:54:17 pm | Posted By: CASANSAAR
RBI/2019-20/179
FIDD.CO.Plan.BC.No.19/04.09.01/2019-20
March 23, 2020
The Chairman/ Managing Director
Chief Executive Officer
All Scheduled Commercial Banks
(Excluding Regional Rural Banks & Small Finance Banks)
Dear Sir/ Madam,
Priority Sector Lending - Lending by banks to NBFCs for On-Lending
Please refer to ourCircular No. FIDD.CO.Plan.BC.07/04.09.01/2019-20 dated August 13, 2019advising, inter alia, that the bank loans to registered NBFCs (other than MFIs) for on-lendi...
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RBI |
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Large Exposures Framework - RBI
Posted Date : 23-Mar-2020 , 04:53:35 pm | Posted By: CASANSAAR
RBI/2019-20/178
DOR.No.BP.BC.43 /21.01.003/2019-20
March 23, 2020
All Scheduled Commercial Banks
(Excluding Regional Rural Banks)
Dear Sir/Madam,
Large Exposures Framework
Please refer to ourcircular No.DBR.No.BP.BC.43/21.01.003/2018-19 dated June 03, 2019on the captioned subject.
2. In terms of para 7.13 of the circular, any Credit Risk Mitigation (CRM) instrument (e.g. SBLC/BG from Head Office/other overseas branch) from which CRM benefits like shifting of exposure/ risk we...
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RBI |
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Online procedure to file VSVS has been activated by IT Department
Posted Date : 19-Mar-2020 , 06:04:13 pm | Posted By: CASANSAAR
In exercise of the powers conferred under Rule 8 ofThe Direct Tax Vivad se Vishwas Rules,2020, the Principal Director General of Income Tax (Systems) hereby lays down the following procedures: CLICK HERE FOR NOTIFICATION..........
...
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Category :
Income Tax |
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Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Posted Date : 19-Mar-2020 , 01:34:22 pm | Posted By: CASANSAAR
Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 due to the CoVID -19 virus pandemic
CLICK HERE FOR SEBI CIRCULAR
...
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SEBI |
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The Direct Tax Vivad Se Vishwas Rules, 2020
Posted Date : 19-Mar-2020 , 09:23:22 am | Posted By: CASANSAAR
The Direct Tax Vivad se Vishwas Act,2020 (VSVS) has been enacted on 17.3.2020.
The Rules alongwith Forms1-5 of VivadSeVishwasScheme2020 have been notified on18.3.2020 vide notification No.18 of 2020.
CLICK HERE FOR NOTIFICATION
...
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Income Tax |
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Notification of Designated Authority under the Direct Tax Vivad Se Vishwas Act, 2020
Posted Date : 19-Mar-2020 , 09:06:46 am | Posted By: CASANSAAR
GOVERNMENT OF INDIA MINISTRY OF
FINANCE DEPARTMENT OF REVENUE
PRINCIPAL CHIEF COMMISSIONER OF INCOME TAX
(INTERNATIONAL TAXATION), NEW DELHI.
Dated : 18thMarch, 2020
Notification
Subject: – Notification of ‘designated authority under ‘theDirect Tax Vivad Se Vishwas Act, 2020‘ -reg.
In exercise of the powers under sub-section (1) and (2) of section 120 of the Income-tax Act, 1961 conferred upon me by the Government of India, Central Board of Direct Taxes...
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Income Tax |
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President Assents Direct Tax Vivad se Vishwas Act, 2020
Posted Date : 18-Mar-2020 , 08:53:56 am | Posted By: CASANSAAR
President Assents Direct Tax Vivad se Vishwas Act, 2020 on 17th March, 2020 the Act will help Government to reduce Litigation on Direct Taxes and also offer an Opportunity to Taxpayers to get rid of Litigation by opting this Scheme...
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Income Tax |
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Settlement system under Asian Clearing Union (ACU) Mechanism
Posted Date : 17-Mar-2020 , 09:47:30 pm | Posted By: CASANSAAR
RBI/2019-20/177
A. P. (DIR Series) Circular No. 22
March 17, 2020
To,
All Authorised Dealer Category - I Banks
Madam / Sir,
Settlement system under Asian Clearing Union (ACU) Mechanism
The Board of Directors of ACU have decided to permit Japanese Yen for settling payments among the ACU member countries. Accordingly, clause (a) and (b) of Article IV of the General Provisions of Agreement establishing the Asian Clearing Union have been revised and the Asian Monetary Unit is now ...
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FEMA |
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Issue of Long Term Bonds by Banks – Financing of Infrastructure and Affordable Housing
Posted Date : 17-Mar-2020 , 09:46:49 pm | Posted By: CASANSAAR
RBI/2019-20/176
DOR.No.BP.BC.41/08.12.014/2019-20
March 17, 2020
All Scheduled Commercial Banks
(excluding RRBs)
Madam / Dear Sir,
Issue of Long Term Bonds by Banks – Financing of Infrastructure and Affordable Housing
Please refer to thecircular DBOD.BP.BC.No.25/08.12.014/2014-15 dated July 15, 2014and subsequent circulars on the above subject. Also refer to thecircular DBR.BP.BC.No.42/08.12.014/2016-17 dated December 1, 2016advising that for the purpose of definition of &...
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RBI |
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Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks
Posted Date : 17-Mar-2020 , 09:46:03 pm | Posted By: CASANSAAR
RBI/2019-20/175
DOR.BP.BC.No.42/21.04.141/2019-20
March 17, 2020
All Scheduled Commercial Banks
Dear Sir/Madam,
Prudential Norms for Classification, Valuation and Operation of Investment
Portfolio by Banks – Spreading of MTM losses and creation of
Investment Fluctuation Reserve (IFR)
Please refer to ourcircular DBR.No.BP.BC.102/21.04.048/2017-18 dated April 2, 2018on the captione...
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RBI |
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Guidelines on Regulation of Payment Aggregators and Payment Gateways
Posted Date : 17-Mar-2020 , 09:45:17 pm | Posted By: CASANSAAR
RBI/DPSS/2019-20/174
DPSS.CO.PD.No.1810/02.14.008/2019-20
March 17, 2020
All Payment System Providers and System Participants
Madam / Sir,
Guidelines on Regulation of Payment Aggregators and Payment Gateways
This has reference to Reserve Bank of India (RBI)circular DPSS.CO.PD.No.1102/02.14.08/2009-10 dated November 24, 2009on ‘directions for opening and operation of accounts and settlement of payments for electronic payment transactions involving intermediaries’.
2...
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RBI |
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Reporting and Accounting of Central Government Transactions of March 2020
Posted Date : 17-Mar-2020 , 09:44:22 pm | Posted By: CASANSAAR
RBI/2019-20/173
DGBA.GBD.No.1744/42.01.029/2019-20
March 17, 2020
All Agency Banks
Dear Sir / Madam,
Reporting and Accounting of Central Government Transactions of March 2020
Please refer toCircular DGBA.GBD.No.2394/42.01.029/2018-19 dated March 20, 2019advising the procedure to be followed for reporting and accounting of Central Government transactions (including CBDT, CBIC, Departmentalised Ministries and non-Civil Ministries) at the Receiving/Nodal/Focal Point branches of your...
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RBI |
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COVID-19- Operational and Business Continuity Measures - RBI
Posted Date : 17-Mar-2020 , 09:02:47 am | Posted By: CASANSAAR
RBI/2019-20/172
DoS.CO.PPG.BC.01/11.01.005/2019-20
March 16, 2020
The Chairman / Managing Director / Chief Executive Officer
All Scheduled Commercial Banks (Excluding RRBs)
All Local Area Banks
All Small Finance Banks and
All Payment Banks/All UCBs/NBFCs
Madam / Dear Sir,
COVID-19- Operational and Business Continuity Measures
As you are aware, the World Health Organization (WHO) has declared the recent outbreak of the novel coronavirus disease (COVID-19) a pandemic indicating...
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RBI |
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Companies (lncorporation) second Amendment Rules, 2O20
Posted Date : 14-Mar-2020 , 10:16:50 am | Posted By: CASANSAAR
G.S.R.(E).- In exercise of the powers conferred by section-3' sub-section (1) of section 7 and sub-section (1) and (2) of section 469 of the Companies Act' 20 13 (18 of 2013), the Centrai Glvernmint hereby makes the following rules further to amend the companies (Incorporatlonf Rules' 2014' namely: -
...
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Category :
Companies Act |
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Companies (Registration Offices and Fees) Second Amendment Rules 2020
Posted Date : 14-Mar-2020 , 10:11:54 am | Posted By: CASANSAAR
G.S.R. ....... (E).-ln exercise of the powers conferred by sections 396, 398, 399, 403 and 404 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Registration Oflices and Fees) Rules, 2014, namely:-...
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Category :
Companies Act |
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Implementation of Indian Accounting Standards - RBI
Posted Date : 14-Mar-2020 , 09:29:00 am | Posted By: CASANSAAR
RBI/2019-20/170
DOR (NBFC).CC.PD.No.109/22.10.106/2019-20
March 13, 2020
To
Non-Banking Financial Companies
and Asset Reconstruction Companies
implementing Indian Accounting Standards
Madam / Sir,
Implementation of Indian Accounting Standards
Non-Banking Financial Companies (NBFCs) covered by Rule 4 of the Companies (Indian Accounting Standards) Rules, 2015 are required to comply with Indian Accounting Standards (Ind AS) for the preparation of their financial statements. In ...
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RBI |
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Relaxation of additional fees and extension of last date in filing of forms MGT-7 Annual Returns
Posted Date : 12-Mar-2020 , 05:42:13 pm | Posted By: CASANSAAR
Relaxation of additional fees and extension of last date in tillng of forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) under the Conpanies Act, 2013- UT of J&K and UT of Ladakh - reg....
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Category :
Companies Act |
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Exemption notification dated 11.3.2020 under Section 45 of the Banking Regulation Act, 1949
Posted Date : 12-Mar-2020 , 05:39:58 pm | Posted By: CASANSAAR
Exemption notification dated 11.3.2020 under Section 45 of the Banking Regulation Act, 1949 from the application of the provisions of Section 5 and 6 of the Competition Act, 2002 in public interest for a period of five years from the date of publication...
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Category :
Companies Act |
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Order in the matter of RV Registration
Posted Date : 12-Mar-2020 , 10:32:40 am | Posted By: CASANSAAR
IN THE MATTER OF APPLICATION OF xxxxxxxxxxxxxxx FOR GRANT OF CERTIFICATE OF REGISTRATION AS A REGISTERED VALUER UNDER RULE 6 OF THE COMPANIES (REGISTERED VALUERS AND VALUATION) RULES, 2017...
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Corporate Laws |
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Constitution of High Level Committee for preparation of Investigation manual for SFIO
Posted Date : 07-Mar-2020 , 10:45:17 am | Posted By: CASANSAAR
Constitution of High Level Committee for preparation of Investigation manual for Serious Fraud Investigation Office (SFIO)...
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Corporate Laws |
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Implementation of Section 51A of UAPA, 1967 - Addition of three entities to 1267 List
Posted Date : 06-Mar-2020 , 06:36:42 pm | Posted By: CASANSAAR
RBI/2019-20/169
DOR.AML.BC.No.40/14.06.001/2019-20
March 06, 2020
The Chairpersons/ CEOs of all the Regulated Entities
Madam/Dear Sir,
Implementation of Section 51A of UAPA, 1967 - Addition of three entities to 1267 List
Please refer to Section 51 of ourMaster Direction on Know Your Customer dated February 25, 2016 as amended on January 09, 2020, in terms of which “Regulated Entities (REs) shall ensure that in terms of Section 51A of the Unlawful Activities (Prevention)...
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RBI |
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Filing of forms in Registry MCA-21 by IRP or RP or Liquidator
Posted Date : 06-Mar-2020 , 05:27:16 pm | Posted By: CASANSAAR
Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interfun Resolutlon Professional (IRP) or Resolution Professional (RP) or Liquidatorf appolnted under Insolvency Bankruptcy Code, 2016 (IBC, 2016)
....
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Corporate Laws |
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Extension of the last date of filing of Form NFRA-2-reg
Posted Date : 06-Mar-2020 , 05:20:46 pm | Posted By: CASANSAAR
In continuation of the Ministry's General Circular No. 14/2019 dated 27thNovember, 2019 and after due examination, it has been decided that the time limit for filing of Form NFRA-2, for the reporting period Financial Year 2018-19' will be 150 days from the date of deployment of this form on the website of National Financial Reporting Authority (NFRA)....
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Category :
Corporate Laws |
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LLP Settlement Scheme, 2020
Posted Date : 04-Mar-2020 , 01:59:47 pm | Posted By: CASANSAAR
LLP settlement Scheme, 2020 launched ; Shall allow a One-time condonation of delay in filing statutorily required documents with the Registrar
Scheme shall come into force on the 16th March, 2020 and shall remain in force up to 13th June, 2020
Applicable for LLP Form 3, 4, 8 and 11....
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Category :
Corporate Laws |
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Govt notifies value of supply of lottery for GST
Posted Date : 03-Mar-2020 , 04:25:07 pm | Posted By: CASANSAAR
G.S.R……(E). - In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-...
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Category :
GST |
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Clarification on prosecutions filed or internal adjudication proceedings initiated Independent Directors,non-promoters and non-KMP non-executive directors
Posted Date : 03-Mar-2020 , 04:21:10 pm | Posted By: CASANSAAR
Clarification on prosecutions filed or internal adjudication proceedings initiated Independent Directors,non-promoters and non-KMP non-executive directors...
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Category :
Corporate Laws |
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Exemptions to Government Companies under section 462 of the CA 2013
Posted Date : 03-Mar-2020 , 10:23:05 am | Posted By: CASANSAAR
G.S.R. _ (E). - In exercise of the powers conferred by clauses (a) and (b) of subsection (1) and in pursuance of sub-section (2) of section 462 of the companies Act, 2013 (18 of 2013), the central Government, in the public interest, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Corporate Affairs, number G.S.R.463(E), dated the 5th June,2015, published in the Gazette of India, Extraordinary, part-ll, Section 3, Sub-section (i), da...
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Companies Act |
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Extension of last date for Independent Director Databank Registration - MCA
Posted Date : 29-Feb-2020 , 08:42:40 am | Posted By: CASANSAAR
Companies (Appointment and qualification of Directors) Amendment Rules, 2020.
_sub-rule (1), in clause (a), for the words ,,three months,, the words *"five months"* shall be substituted...
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Category :
Corporate Laws |
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